A split between Pallotta and Jones, the veteran trader who started Tudor Investment Corp, would mark the end of one of the most successful and well-known hedge-fund duos in history, the paper said.

Jones has talked privately in recent weeks about the possibility of restructuring his firm in a way that could result in a separation with Pallotta, the Journal said, citing people familiar with the discussions.

Pallotta, who manages Tudor's Raptor Global Fund, has in recent months privately expressed frustration about picking stocks in such volatile markets, where nervous investors could pull their money every quarter, the paper said, citing people familiar with his thinking.

The Journal, citing people familiar with Tudor's operations, said no decisions have been made yet, and that it was still possible that Pallotta will remain with Tudor.

Representatives at Tudor could not be immediately reached for comments.

Pallotta is a prominent figure in Boston where he is part owner of the Boston Celtics basketball team. (Reporting by Tenzin Pema; Editing by Louise Ireland)

15 years? The timing seems proper. They got together at the beginning of the 1990's bull market and are divorcing after a substantial market dip. You would have "expected" this to happen at the end of 2002. Oh well.